$2 Billion Worth of Shares Sold

Jeff Bezos, the founder and largest individual shareholder of Amazon, recently cashed in on his investment by selling around twelve million shares in the online retail and cloud service provider for two billion dollars (1.86 billion euros). This sale of shares took place on Wednesday and Thursday. Last week, Amazon announced that Bezos would pay a total of up to 50 million shares the world’s largest online retailer wants to sell, with the sales plan scheduled to be completed by January 31, 2025.

The stock deal has sparked various speculations online about why Bezos needs billions. It is believed that the Amazon founder wants to continue financing his space company Blue Origin, in order to stay ahead of rival Elon Musk in the space race. With a market capitalization of 1.812 trillion dollars, Amazon is currently the fourth most valuable company in the USA, behind Microsoft, Apple, and Google mother Alphabet.

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